According to CREDAI and Collier’s research, India’s real estate market is expected to rise by many times to $5-7 trillion by 2047. It may even reach $10 trillion, owing to growing economic development and rapid urbanization.
CREDAI, the peak association for realtors, and real estate consultant Colliers India issued a joint study titled ‘Indian Real Estate: The Quantum Leap’ recently during the CREDAI-NATCON conference.
India’s Real Estate is expected to reach $ 1 trillion by 2030:
The real estate sector in India is predicted to develop rapidly and reach $1 trillion by 2030, up from a 6-8 percent contribution to GDP and a market size of $0.2 trillion in 2021, according to the research.
There is an exciting projection of $7-10 trillion and a more realistic one of $5-7 trillion, according to research conducted by CREDAI and Colliers, which puts the Indian real estate business on track to reach an amazing 3-5 trillion dollars by 2047. 14–20% of India’s gross domestic product is attributable to the country’s real estate market.
A larger degree of institutionalization and market consolidation is anticipated across the board in the Indian real estate industry, according to the expert.
Maturation of core assets in India’s Real Estate:
Additionally, the research foresees the maturation of core assets such as residential and office real estate and robust development in alternative assets like data centers and senior housing.
The research also claims that India’s real estate market would grow beyond the country’s major cities and into many tier-2 and tier-3 cities.
CREDAI member’s views:
According to Boman Irani, President of CREDAI National, “We are on the verge of a quantum leap, entering a new era of growth and diversification.” This can be attributed to the interplay of several dynamic factors, including growing urbanization, rising median age, and innovative technology developments.”
According to Manoj Gaur, Chairman of CREDAI National, India has set its sights on creating a real estate market worth $10 trillion, which is driven by the sector’s capacity to adapt and innovate.
In addition, he stated that “landmark measures” such as the Real Estate Regulatory Act (RERA) and laws governing REITs have strengthened investor trust, increased transparency, and simplified operations throughout the industry.”
According to Gaur, these changes, in conjunction with important programs such as PMAY and Gati Shakti, are creating an atmosphere that is favorable to the continuing development of real estate that is sustainable.
Views expressed by Colliers on India’s Real Estate:
This is what Badal Yagnik, Chief Executive Officer of Colliers India, had to say about India’s real estate market: “As India begins a period of expansion across most economic sectors, real estate is set for a ‘Quantum Leap,’ with multiple growth opportunities arising along the accelerated journey phase.”
He added that good trends in urbanization and demography would probably highlight the rise of over a hundred million-plus cities by 2047.
This thus makes a case for the establishment of several real estate hotspots scattered around the nation, Yagnik added.
Six clear growth levers—fast urbanization, infrastructure development, digitization, demographic changes, sustainability, and investment diversification—are driving this long-term expansion in real estate, the survey stated.
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